Iran mulls UAE dirhams switch for EU oil sales: report

Iran is considering switching payments for its crude oil exports to Europe to the UAE dirham currency instead of the euro, the International Oil Daily industry newsletter reported.

Iran mulls UAE dirhams switch for EU oil sales: report

Iran is considering switching payments for its crude oil exports to Europe to the UAE dirham currency instead of the euro, the International Oil Daily industry newsletter reported.

The newsletter, a copy of which was received by Reuters on Friday, quoted industry sources as saying the state National Iranian Oil Co. had sounded out European term customers about the possible change, but had yet to make a firm decision.

"There's something happening -- the Iranians are testing solutions," it quoted one industry executive as saying. "They've put out feelers very recently about taking payment for oil in dirhams."

It quoted another industry source as saying the move was prompted by concerns in Tehran that euro transactions were no longer safe and could be blocked by EU member states.

"Basically, they'd be happy to get paid in any currency as long as it's not the dollar or the euro," the source said.

EU leaders agree new unilateral sanctions in June and may approve by the end of this month.

They will target trade, transport and key sectors of the gas and oil industry. Energy sector sanctions would prohibit "new investment, technical assistance and transfers of technologies, equipment and services related to these areas.

The newsletter said the EU would also introduce restrictions against Iranian banks and target the European operations of Iran's central bank.


Agencies

Güncelleme Tarihi: 19 Temmuz 2010, 11:49

SeydiAli

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